With the Federal Reserve sticking to its tightening path, alongside the Bank of Canada who yesterday raised rates by 25bps, focus is once again back on policy divergence with the likes of the ECB. Get your market update from JMcQueenFX here:
Euro Weighed as Policy Divergence Returns
Yesterday’s testimony from Fed Chair Powell, more or less confirmed that a 25bps rate hike will take place at the upcoming Fed meeting. Although, while Powell signalled an openness to a larger hike, this would likely occur in the event that inflation persisted in the latter half of the year. In turn, with the Federal Reserve sticking to its tightening path, alongside the Bank of Canada who yesterday raised rates by 25bps, focus is once again back on policy divergence with the likes of the ECB.
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